Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Average Rating of "Buy" by Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.83.

A number of equities research analysts have weighed in on CLSD shares. Needham & Company LLC reissued a "buy" rating and set a $4.00 target price on shares of Clearside Biomedical in a report on Tuesday, August 13th. HC Wainwright restated a "buy" rating and issued a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 27th. Chardan Capital initiated coverage on Clearside Biomedical in a research report on Wednesday, August 21st. They set a "buy" rating and a $6.00 target price for the company. Finally, Oppenheimer began coverage on Clearside Biomedical in a research report on Tuesday, June 25th. They issued an "outperform" rating and a $5.00 price target on the stock.

Clearside Biomedical Stock Performance

Shares of CLSD traded down $0.01 during trading hours on Thursday, reaching $1.33. The stock had a trading volume of 238,148 shares, compared to its average volume of 279,410. The stock has a market capitalization of $99.39 million, a PE ratio of -2.42 and a beta of 2.34. Clearside Biomedical has a 12 month low of $0.65 and a 12 month high of $2.12. The company's 50-day moving average is $1.12 and its two-hundred day moving average is $1.24.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.04. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the business posted ($0.15) earnings per share. Equities analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical during the 1st quarter worth approximately $49,000. XTX Topco Ltd grew its holdings in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock worth $71,000 after purchasing an additional 34,359 shares during the period. Renaissance Technologies LLC increased its stake in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company's stock valued at $757,000 after purchasing an additional 35,900 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical during the first quarter valued at about $57,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical during the 2nd quarter worth about $368,000. 18.75% of the stock is currently owned by institutional investors.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.